HARMONIZATION AND STANDARDIZATION OF THE ACCOUNTING AND ITS FUNCTIONS

The process of harmonization and standardization of the accounting,which has been observed hitherto, is described in this paper. Particular attention hasbeen given to changes that have been done in the Polish balance law and conditionswhich accompanied them. Special attention has been also paid to the implicationswhich may be caused by the drawing up the financial statements according toInternational Financial Reporting Standards. Changes in the accounting haveresulted in the fact that its main function which it fulfils is the information function.Detailed functions that arise from the main one have been also described in thispaper.accounting, harmonization, standardization, function

The banking firm: the role of signaling with collaterals

In this paper we challenge basic results of signaling models. In our banking model each project of a borrower is described by a continuous density of outcomes. Different density functions are classified according to second stochastisch dominance. Combining these features we find that in a banking model collateral is no longer in a position to signal the degree of riskiness of the borrower to the lender. In most cases the equilibrium is a pooling equilibrium. --Signaling,collateral,perfect Bayesian equilibrium

The New Basel Accord and the Nature of Risk: A Game Theoretic Perspective

Basel II changes risk management in banks strongly. Internal rating procedures would lead one to expect that banks are changing over to active risk control. But, if risk management is no longer a simple "game against nature", if all agents involved are active players then a shift from a non-strategic model setting (measuring event risk stochastically) to a more general strategic model setting (measuring behavioral risk adequately) comes true. Knowing that a game is any situation in which the players make strategic decisions – i.e., decisions that take into account each other's actions and responses – game theory is a useful set of tools for better understanding different risk settings. Embedded in a short history of the Basel Accord in this article we introduce some basic ideas of game theory in the context of rating procedures in accordance with Basel II. As well, some insight is given how game theory works. Here, the primary value of game theory stems from its focus on behavioral risk: risk when all agents are presumed rational, each attempting to anticipate likely actions and reactions by its rivals --New Basel Accord,event risk,behavioral risk,rating,simple game,Nash-equilibrium,game theory

A Strategic Approach to Financial Options

To explain the strategic dimension in pricing options, it will be helpful to go back to the heart of the idea behind the concept of an option: options open up the possibility to postpone current decisions to a future point of time. Because of this flexibility additional information and new experiences can be taken into consideration. There are advantages and benefits resulting from this flexibility. The value of the option with the probabilities of the states of nature occurring. These probabilities will turn out the strategic decision variables of a new player as explained in the paper. --Financial Option,Real Option,Option Premium Game

Strategic pricing of financial options

The mainstream model of option pricing is based on an exogenously given process of price movements. The implication of this assumption is that price movements are not affected by actions of market participants. However, if we assume that there are indeed impacts on the price movements it no longer possible to apply the standard pricing models. As a result we need an approach explaining interdependent actions. Game theory is in a position to offer proper olutions. This paper applies game theoretic concepts to determine option prices. Consequently, both the option price and the underlying´s expiration price are endogenously determined. --game theory,Nash equilibrium,option pricing,real option

Silver selective electrodes based on thioether functionalized calix[4]arenes as ionophores

Silver selective electrodes based on thioether functionalized calix[4]arenes 1 and 2 as ionophores were investigated. For both ionophores the selectivity coefficients (log kAg,M) were lower than −2.2 for Hg(II) and lower than −4.6 for other cations tested. The best results were obtained with membranes containing dithioether functionalized calix[4]arene (ionophore 2), potassium tetrakis(4-chlorophenyl) borate (KTpCIPB) and bis(1-butylpentyl)adipate (BBPA) as a plasticizer. The Ag(I)-response functions exhibited almost theoretical Nernstian slopes in the activity range 10−6–10−1M of silver ions.\ud \u

Comparison of site effect values obtained by HVSR and HVSRN methods for single-station measurements in Tarnówek, South-Western Poland

This study compares the HVSR technique (Horizontal to Vertical Spectral Ratio), based on seismic event records, and the HVSRN technique (Horizontal to Vertical Spectral Ratio of Noise) using seismic noise registrations. Both methods allow us to study the amplification phenomenon of a horizontal component of seismic waves when the waves reach loose sediments in subsurface layers. The seismic data were measured at a three-component single seismic station located in the village of Tarnowek, in the Legnica-Glogow Copper District. The results of the study demonstrate that average HVSRN and HVSR maxima can be distinguished: for periods approximately 3.78 s (H/V = 6.2) and 3.969 s (H/V = 8.98) respectively. The evaluated share of the Rayleigh wave component in the recorded values was beta = 0.58 and it can be suggested that the Love wave share in surface motion was insignificant. The Love wave share remains unknown

Permafrost prospecting and geological structure of Mt. Babia Góra in the light of the electroresistivity imaging method

W artykule przedstawiono wyniki prac nad hipotezą o występowaniu wieloletniej zmarzliny w okołoszczytowej okolicy Babiej Góry. W badanym obszarze wykonano trzy profile inwersyjnego obrazowania oporności, których maksymalna głębokość interpretacji sięga do około 90 m pod powierzchnię gruntu. Uzyskane wyniki nie potwierdzają jednoznacznie występowania permafrostu w badanym terenie, natomiast dobrze ukazują budowę geologiczną szczytowych partii Babiej Góry

Simultaneous Measurement of Temperature and Relative Humidity Using a Dual-Wavelength Erbium-Doped Fiber Ring Laser Sensor

A fiber ring laser sensor setup utilizing FBGs (Fiber Bragg Gratings) for simultaneous measurement of ambient temperature and relative humidity (RH) is presented. Two FBGs are incorporated as tunable filters for a dual-wavelength laser emission, where one FBG was coated with Polyimide (PI) in order to achieve sensitivity to RH changes, while the other bare FBG was used for temperature sensing. An increase in RH would induce a strain on the grating, which results in a variation in the resonance wavelength of the PI-coated FBG. This causes a shift in the laser emission wavelength. Being insensitive to RH changes, the bare FBG was employed to measure temperature. The dual-wavelength fiber ring laser sensor created thus allows to determine simultaneous measurement of RH and temperature. The RH sensitivities observed by the PI coated FBG to RH and temperature are 3.6 pm/%RH and 12.15 pm/°C respectively. The temperature sensitivity of the bare FBG was observed to be 9.6 pm/°C. The main advantage of the proposed setup is an optical signal to noise ratio (OSNR) higher than 55 dB and a 3 dB-bandwidth less than 0.02 nm, which points out efficient capabilities for both precise sensing and remote detection applications